This count expects that subminuette wave ii is either complete or very near completion, and that the euro is about to start moving strongly towards the upside in subminuette wave iii. This will be initially confirmed by movement above 1.3907.

The MACD indicator supports this count by showing a bullish crossover.

In terms of candlestick analysis, no clear pattern appears at this point.

At 1.4019 subminuette wave iii would reach 100% the length of subminuette wave i, then at 1.4163 it would reach 161.8% of its length.

This wave count is invalidated by movement below 1.3673 as subminuette wave ii may not move beyond the start of subminuette wave i.

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